The new MoonPay and SatoshiLabs-founded Invity platform integration provides buy, sell, and exchange features right in the Trezor wallet.
Trezor, a hardware wallet business, has announced a new cooperation with the crypto financial startup MoonPay to facilitate direct crypto purchases.
According to a statement made on Wednesday, Trezor, a Czech Republic-based hardware wallet provider, has teamed with MoonPay to allow its clients to buy crypto directly in their hardware wallet.
MoonPay is a cryptocurrency payment service that allows users to buy and trade cryptocurrencies and nonfungible tokens (NFTs) via debit cards, credit cards, and other payment methods. It is backed by significant industry investors including as Tiger Global and Coatue. The company collected $87 million in April 2022 from investors including Justin Bieber and Snoop Dogg to focus on NFTs and Web3.
The relationship with MoonPay expands on Trezor’s prior collaboration with Invity, a cryptocurrency exchange comparison tool embedded directly into the wallet.
Invity, like Trezor, is a startup run by the parent company SatoshiLabs. The platform connects clients with reputable partner exchanges to facilitate direct-to-custody trades using a variety of payment options. The three sites work together to provide buy, sell, and exchange features directly in the Trezor wallet.
Customers can now buy and sell a wide range of cryptocurrencies using a noncustodial crypto wallet, allowing them to better protect their cash. Trezor currently supports over 1,000 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Tether (USDT), BNB, Cardano (ADA), and others.
“For users that have used MoonPay through their network of partners, they will have their account already created and payment methods saved, so will be able to transact in a few seconds,” Invity CEO Stepan Uherik said. For first time users of MoonPay, they require basic Know Your Customer checks based on transaction amount to comply with regulations prior to executing the first transactions, he added.
Uherik further mentioned that the buy feature is now available on Trezor via MoonPay, while the sell option would be available later.
The newest news marks another another milestone for Trezor crypto transactions, as the hardware wallet previously supported crypto purchases on its native app Trezor Suite via an in-app Trade feature. Trezor stated in one of its blog entries that the option has been available through Invity’s crypto exchange comparison tool since at least late 2020.
“By allowing Trezor owners to buy crypto directly from their wallet, we’re tapping into a committed cohort of cryptocurrency users who take security very seriously,” MoonPay senior business development manager Antonio Talledo said. “Through this partnership with MoonPay, we’re taking the lead to bring secure, borderless and easy financial freedom to billions,” Uherik noted.